Raymond James Financial Inc. Purchases Shares of 798,868 Dell Technologies Inc. (NYSE:DELL)

Raymond James Financial Inc. purchased a new stake in Dell Technologies Inc. (NYSE:DELL) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 798,868 shares of the technology company’s stock, valued at approximately $92,062,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Promus Capital LLC acquired a new stake in Dell Technologies during the 4th quarter worth about $42,000. Vision Financial Markets LLC acquired a new stake in Dell Technologies during the 4th quarter worth about $26,000. Arizona State Retirement System raised its holdings in Dell Technologies by 11.9% during the 4th quarter. Arizona State Retirement System now owns 90,298 shares of the technology company’s stock worth $10,406,000 after buying an additional 9,609 shares during the period. Vantage Financial Partners LLC acquired a new stake in Dell Technologies during the 4th quarter worth about $204,000. Finally, Proficio Capital Partners LLC acquired a new stake in Dell Technologies during the 4th quarter worth about $237,000. 76.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the completion of the sale, the director now owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This represents a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the sale, the director now directly owns 23,680 shares of the company’s stock, valued at $2,841,600. This represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 825,662 shares of company stock valued at $100,414,453 over the last 90 days. 46.70% of the stock is currently owned by company insiders.

Dell Technologies Stock Performance

NYSE:DELL opened at $91.37 on Monday. The stock’s 50 day moving average price is $110.13 and its 200 day moving average price is $117.81. Dell Technologies Inc. has a 52 week low of $86.93 and a 52 week high of $179.70. The company has a market capitalization of $64.00 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.10 and a beta of 0.83.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 2.30%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio is presently 33.76%.

Analysts Set New Price Targets

Several analysts have issued reports on DELL shares. Citigroup cut their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Morgan Stanley dropped their target price on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Bank of America dropped their target price on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, TD Cowen dropped their target price on Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and an average price target of $141.24.

About Dell Technologies

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).